Tuesday, September 30, 2008

Leave Us Alone -- Please!

A long-running joke in this state is that many people (including some post offices around the country!) seem to think we are actually a part of Mexico. The latest unemployment figures for the state and Albuquerque/Rio Rancho make that look like a good idea.

We are still in far better shape than most. But, the economic sectors of our economy most closely tied to the national economy are the ones that are doing the worst. Manufacturing, financial and professional/business services are all underperforming.

  • The state's unemployment rate in August was 4.6% -- up from 3.4% last year.
  • Job growth stands at .06% -- an increase of 4,700 jobs from a year ago.
  • Albuquerque/Rio Rancho's unemployment rate was 4.7% -- up from 3.4% last year.
  • Over the year, employment has declined .2% -- a loss of 600 jobs. That is the first net loss we have suffered since 2002. Some of the winners and losers:
  • Construction lost 800 jobs.
  • Professional & business services lost 800 jobs.
  • Leisure and hospitality lost 400 jobs.
  • Government services added 1,200 jobs.
  • Education and health services added 1,100.
  • Information (where movie jobs are slotted) added 400 jobs.

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